CAC Set To Clamp Down On Unregistered Businesses In Delta

By IAfrica
In Nigeria
Aug 25th, 2014
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By Andrew Ikehi

 

The Corporate Affairs Commissions (CAC) says it will soon begin to clamp down on businesses that were still unregistered with the commission in Delta State.

The Registrar General of the commission,  Alhaji Bello Mamudu who stated this yesterday in Asaba, the Delta State capital, said the plan was part of the on-going exercise across the 36 states in the country.

The CAC boss who was represented by his Special Adviser, Alhaji Garuba Abubakar during a one-day campaingn on “Running A Business In Delta State” organized by the Commission in partnership with the Delta State government, advised business owners in the state to take advantage of the reduction in the cost of business registrations in the country by 50 per cent by the Federal Government to register their businesses.

Meanwhile, the Delta State Governor, Dr. Emmanuel Uduaghan has enjoined business owners in the state to ensure that they register their businesses with the Commission in order to avoid the imminent clamp down on their businesses

The State Governor who spoke through the State Commissioner for Commerce and Industry, Dr. Kingsley Eze Emu underscored the import of formal registration of business outfits as according to him, it would not only give the business personal identity, it would also guarantee the sustainability of such business ventures.

As part of measures to drive compliance, Governor Uduaghan said that only registered Small, Medium Enterprises (SMEs) in the state would gain access to the N500Million Central Bank of Nigeria (CBN) Development Fund for Micro, Small and Medium Enterprises (MSMEs) in the state.

Governor Uduaghan while flagging off the ‘Running A Business In Delta State Campaing” orgainsed by the state government in partnership with the CAC and Growth and Empowerment in states (GEMs), commended the Federal Government reducing the cost of business registrations in the country by 50 per cent.

Given the development, Uduaghan explained, companies in the country including MSMEs would be saving over N2Billion annually which he noted would impact positively on the nation’s economy.

In an interview with our reporter, some of the participants while applauding the Federal Government’s gesture said they were ready to key into the Federal Government to register their businesses.


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